Finished Attic Appraisal

Fha hud guideline handbook 4150 2 states.

Finished attic appraisal.

Whether you are a buyer or a seller improvements done without permits can prove. When i had the appraisal done the appraiser noted that due to the ceiling height the area would be valued separately and at a lower rate. Finished basements and unfinished attic areas are not included in total gross living area. However the ceiling height at its highest point is only 6 6ft.

I wouldn t put a water bed up there. I don t see how a finished attic can be included in gla unless there are permits. According to the nar 2019 report converting an attic to a living area nets an average 56 roi a higher return than adding a new bathroom or more than adding a new master suite. I have a finished attic stairs walk in closet full bath and bedroom.

Gross living area is the total area of finished above grade residential space. What is unpermitted work. First it wasn t engineered to carry the load that a normal living space floor carries. Converting your attic into usable finished space can increase the value of your home by maximizing the available square footage.

Santa clara county doesn t have finished attics but nearby san francisco does. Unpermitted work is construction on a home that does not carry the necessary permits to make it legal per local ordinances. To be included in the square footage an attic would first need to meet the same criteria as any other space heating flooring ceiling and wall covering. It is calculated by measuring the outside perimeter of the structure and includes only finished habitable above grade living space.

Additions to homes and finished basements are some of the most common. Spend less in a basement renovation for a lower appraisal or spend more in the attic for higher appraisal value. Some people wonder if an attic can be included in the finished square footage of a home if there is a pull down ladder or existing stairway to the space.